BFH FY 2022 Earnings Report — Bread Financial Holdings, Inc. Revenue & Financial Results | Market Cap Arena

Bread Financial Holdings, Inc.BFH

FY 2022 Earnings

Reported February 28, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$4.4B	—	$3.3B	—	33.7%
Op. Income	$300M	—	$1.0B	—	-71.3%
Gross Margin	52.0%	—	63.1%	—	-11.0pp
Net Margin	5.1%	—	24.5%	—	-19.4pp
EPS (Diluted)	$4.46	—	$16.02	—	-72.2%
Free Cash Flow	$1.8B	—	$1.5B	—	22.0%

Revenue Flow

Item	Amount
REVENUE	$4.4B
Cost of Revenue	$2.1B
GROSS PROFIT	$2.3B
R&D Expenses	$0
Selling & Marketing	$180M
General & Administrative	$779M
SG&A Expenses	$959M
Other Expenses	$1.0B
Operating Expenses	$2.0B
Cost & Expenses	$4.1B
OPERATING INCOME	$300M
Interest Income	$4.7B
Interest Expense	$503M
Other Income/Expenses	$0
INCOME BEFORE TAX	$300M
Income Tax Expense	$76M
Net Income from Continuing Ops	$224M
Net Income from Discontinued Ops	-$1M
Other Adjustments	$0
NET INCOME	$223M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$223M
D&A	$113M
EBIT	$300M
EBITDA	$413M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$4.4B
Cost of Revenue	$2.1B
GROSS PROFIT	$2.3B
R&D Expenses	$0
Selling & Marketing	$180M
General & Administrative	$779M
SG&A Expenses	$959M
Other Expenses	$1.0B
Operating Expenses	$2.0B
Cost & Expenses	$4.1B
OPERATING INCOME	$300M
Interest Income	$4.7B
Interest Expense	$503M
Other Income/Expenses	$0
INCOME BEFORE TAX	$300M
Income Tax Expense	$76M
Net Income from Continuing Ops	$224M
Net Income from Discontinued Ops	-$1M
Other Adjustments	$0
NET INCOME	$223M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$223M
D&A	$113M
EBIT	$300M
EBITDA	$413M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$223M
Depreciation & Amortization	$113M
Stock-Based Compensation	$33M
Deferred Income Tax	-$245M
Other Non-Cash Items	$1.8B
Change in Working Capital	-$47M
OPERATING CASH FLOW	$1.8B
Capital Expenditure	-$68M
Acquisitions (Net)	$0
Purchases of Investments	-$43M
Sales/Maturities of Investments	$30M
Other Investing Activities	-$5.0B
NET CASH FROM INVESTING	-$5.1B
Net Debt Issuance	$560M
Common Stock Repurchased	-$12M
Common Dividends Paid	-$43M
Other Financing Activities	$2.8B
NET CASH FROM FINANCING	$3.3B
FREE CASH FLOW	$1.8B
Net Change in Cash	$4M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.9B
Short-Term Investments	$95M
Net Receivables	$164M
Inventory	$0
Other Current Assets	$36M
TOTAL CURRENT ASSETS	$4.2B
PP&E (Net)	$283M
Goodwill	$634M
Intangible Assets	$165M
Long-Term Investments	$19.0B
Tax Assets	$552M
Other Non-Current Assets	$554M
TOTAL NON-CURRENT ASSETS	$21.2B
TOTAL ASSETS	$25.4B
Account Payables	$398M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$13.8B
TOTAL CURRENT LIABILITIES	$14.8B
Long-Term Debt	$8.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$173M
TOTAL NON-CURRENT LIABILITIES	$8.3B
TOTAL LIABILITIES	$23.1B
Common Stock	$1M
Additional Paid-In Capital	$2.2B
Retained Earnings	$93M
Treasury Stock	$0
Accum. Other Comp. Income	-$21M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.3B
Minority Interest	$0
TOTAL EQUITY	$2.3B
TOTAL LIABILITIES & EQUITY	$25.4B
Total Debt	$8.1B
Net Debt	$4.2B